Great Depression And New Deal

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Great Depression

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a severe worldwide economic depression in the decade preceding World War II.
The depression originated in the U.S, starting with the fall in stock prices that began around September 4, 1929 and became worldwide news with the stock market crash of October 29, 1929 (known as Black Tuesday). From there, it quickly spread to almost every country in the world.

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Black Tuesday

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October 29th, 1929;
the date of the most famous stock market crash in history. Stocks lost 13% of their value on Black Tuesday.

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Dust Bowl

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a period of severe dust storms causing major ecological and agricultural damage to American and Canadian prairie lands from 1930 to 1936.
it caused by severe drought coupled with decades of extensive farming without crop rotation, fallow fields, cover crops or other techniques to prevent erosion.

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Gross National Product

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the market value of all products and services produced in one year by labor and property supplied by the residents of a country.
GNP allocates production based on ownership.

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Herbert Hoover

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promoted partnerships between government and business under the rubric "economic modernization".
Hoover, a trained engineer, deeply believed in the Efficiency Movement, which held that government and the economy were riddled with inefficiency and waste, and could be improved by experts who could identify the problems and solve them.

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Franklin D Roosevelt

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Roosevelt launched major legislation and a profusion of executive orders that gave form to the New Deal—a complex, interlocking set of programs designed to produce relief (especially government jobs for the unemployed), recovery (of the economy), and reform (through regulation of Wall Street, banks and transportation).
FDR gave strong diplomatic and financial support to China and Britain, while remaining officially neutral. His goal was to make America the "Arsenal of Democracy" which would supply munitions to the Allies. In March 1941, Roosevelt, with Congressional approval, provided Lend-Lease aid to the countries fighting against Nazi Germany with Great Britain.

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20th Amendment

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establishes the beginning and ending of the terms of the elected federal offices. It also deals with scenarios in which there is no President-elect.

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New Deal

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a series of economic programs implemented in the United States between 1933 and 1936:
relief for the unemployed and poor; recovery of the economy to normal levels; and reform of the financial system to prevent a repeat depression.

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Frances Perkins

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the first woman appointed to the U.S. Cabinet.
With The Social Security Act she established unemployment benefits, pensions for the many uncovered elderly Americans, and welfare for the poorest Americans. She pushed to reduce workplace accidents and helped craft laws against child labor. Through the Fair Labor Standards Act, she established the first minimum wage and overtime laws for American workers, and defined the standard 40-hour work week & formed governmental policy for working with labor unions and helped to alleviate strikes.

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Fireside Chats

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a series of thirty evening radio speeches given by United States President Franklin D. Roosevelt between 1933 and 1944.

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FDIC

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a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank.

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Public Works Administration

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It concentrated on the construction of large-scale public works such as dams and bridges, with the goal of providing employment, stabilizing purchasing power, and contributing to a revival of American industry.

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Civilian Conservation Corps

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a public work relief program in the United States for unemployed, unmarried men, ages 17–25, between 1933-42 that provided unskilled manual labor jobs related to the conservation and development of natural resources in rural lands owned by federal, state and local governments.
The CCC was designed to provide employment for young men in relief families who had difficulty finding jobs during the Great Depression while at the same time implementing a general natural resource conservation program in every state and territory.

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Schechter v. U.S

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invalidated regulations of the poultry industry according to the nondelegation doctrine and as an invalid use of Congress' power under the commerce clause.

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Securities Exchange Commission

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a federal agency which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets in the United States.

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Second New Deal

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term used by commentators at the time[1] and historians ever since to characterize the second stage of the New Deal programs of President Franklin D. Roosevelt. In his address to Congress in January 1935, Roosevelt called for three major goals: improved use of national resources, security against old age, unemployment and illness, and slum clearance, as well as a national welfare program (the WPA) to replace state relief efforts.

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Works Progress Administration

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provided jobs and income to the unemployed during the Great Depression in the United States.
New Deal agency, employing millions to carry out public works projects, including the construction of public buildings and roads, and operated large arts, drama, media, and literacy projects. It fed children and redistributed food, clothing, and housing.

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Wagner Act 1935

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a 1935 United States federal law that limits the means with which employers may react to workers in the private sector who create labor unions, engage in collective bargaining, and take part in strikes and other forms of concerted activity in support of their demands.

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Social Security Act 1935

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designed to assist in the maintenance of the financial well-being of eligible persons

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Huey Long

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created the Share Our Wealth program in 1934 proposing new wealth redistribution measures in the form of a net asset tax on corporations and individuals to curb the poverty and hopelessness endemic nationwide during the Great Depression.

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John L. Lewis

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n American leader of organized labor who served as president of the United Mine Workers of America (UMW) from 1920 to 1960.
founding of the Congress of Industrial Organizations (CIO), which established the United Steel Workers of America and helped organize millions of other industrial workers in the 1930s.